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  1. #41
    Senior Member Lawrence's Avatar
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    Dec 2005
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    Default Re: How to invest ones small savings?

    Do not get Super yet but you send the message it's a money earner

    But i know of a few that get Super and they have to be very careful and Budget to get through as costs have sky rocketed with Insurance alone up 25% over the last 2 years

    $5/8,000 a year contingency fund is a must for surprises (heat pumps/hot water cylinders and general repairs etc)

    And also there is plenty of bottom feeders out there taking advantage of retiree's,got a call from someone I know wanting to know if their house needs water blasting(brick) when they only wanted the windows cleaned they only wanted $600

  2. #42
    Wanderer
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    Dec 2004
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    7,384

    Default Re: How to invest ones small savings?

    Quote Originally Posted by Digby View Post
    @Nomad
    That is good advice for younger ones.
    But my OP refers to someone who is on super and who may have already retired.
    They do not have 40 years.
    Then I don't know. Since you listed those types of investments. Even if something is returning 20% PA it still won't be enough.

    Quote Originally Posted by R2x1 View Post
    Pot plants.

  3. #43
    pcsourcepoint
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    May 2006
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    Otara, Auckland
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    2,984

    Default Re: How to invest ones small savings?

    i think it's important to check with WINZ for those on super - to see what your obligations are if you are earning income - whether through investments, taxable income, passive (e.g. online) income, gifts, estates, family trusts, etc. I recall a retired man spent most of his savings to cover his wife's funeral costs - not wanting to burden his adult kids to pay. But he had a hard time with WINZ, trying to reapply for super or getting top ups.

    Perhaps investing in yourself in some kind of work would help. Both my parents, in their mid to late 70's still work, fortunately (I think) both own small micro businesses. I myself earn a bit online through SEO/amazon affiliate ads/Google Adsense Ads (successful kiwi's making seemingly heaps) via content marketing through several websites/blogs, plus importing items (women's clothing/packaged "dress up" accessories, specialist tools, etc) to sell on trademe.
    Computer Tech Links (My Tutorials & Reviews)| Free MP3 Software Reviews (My Reviews)|I Student NZ (My Student Resoucre Tips)

  4. #44
    Senior Member
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    Dec 2004
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    Christchurch
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    2,126

    Default Re: How to invest ones small savings?

    Just done a quick check on John KEY's power company shares, 7.708% pa since 2014. Don't know what the capital appreciation is though.

  5. #45
    Senior Member
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    Dec 2004
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    Christchurch
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    Default Re: How to invest ones small savings?

    Quote Originally Posted by Lurking View Post
    Just done a quick check on John KEY's power company shares, 7.708% pa since 2014. Don't know what the capital appreciation is though.
    Capital appreciation = 2.18 times their paid value over 4 years. CGT would be on selling value of $10,000.00 odd over original outlay. Our tax rate would earn govt. $1,700.00. But what will CGT be!.

    lurking.

  6. #46
    Retired old codger kenj's Avatar
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    Nov 2006
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    Default Re: How to invest ones small savings?

    "How to invest one's small savings?"

    No one has said the obvious in this current financial times..... "Start out with a large amount"

    Ken

  7. #47
    Senior Member
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    Dec 2004
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    Christchurch
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    Default Re: How to invest ones small savings?

    Ken, we can start right now. Doctors visits now cost me $18 instead of $45, and I'm going into them too often.

    One thing I did have was a good salary for over 29 years and the company had a good super/medical scheme. Govt. was hell on the super scheme tho. top tax rate back then 33c in $.

    Thanks to Dr CULLEN's tax regime it dropped back to personal tax rate not Coy tax rates.

    Only decent thing he did.

    lurking.

  8. #48
    Senior Member piroska's Avatar
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    Dec 2017
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    Default Re: How to invest ones small savings?

    Quote Originally Posted by Lawrence View Post

    But i know of a few that get Super and they have to be very careful and Budget to get through as costs have sky rocketed with Insurance alone up 25% over the last 2 years

    If you have a mortgage or rent and get the pension, then yes, it's tricky.

    If you don't, as is the case for most, it is perfectly livable.

    My mum has change, she saves $100 a fortnight, and supermarket shops like it's going out of fashion.
    I see her bills, insurance, power going up...but they still come to bugger all of her pension.
    Ex-pctek

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